Q FM Africa's Modern Radio
CSPR Executive Director Patrick Nshindano
The Civil Society for Poverty Reduction (CSPR) has observed that despite Zambia recording some positives in economic fundamentals, the country is still under fiscal stress.
CSRP Executive Director Patrick Nshindano tells QTV News that this could be the reason why the International Monetary Fund has rejected Zambia’s latest borrowing plans.
Mr. Nshindano says it is very clear that the fund has rejected Zambia’s second proposal because Zambia’s debt position still remains constrained.
He says there is need to urgently work on this debt load if the country is to make economic progress.
He says Zambia needs the IMF bailout package.
Mr. Nshindano notes that another reason that could have led to the rejection of the borrowing plans is the change in the Minister of Finance, saying the fund maybe want to know the position of the new minister on the bailout package.